Technical analysis EURCAD for 29.11.2021

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.4365. The closest resistance is the level 1.4415

Key levels

• 1.4485, 1.4415, 1.4365, 1.4365, 1.4325, 1.4285, 1.4240, 1.4165

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.4415, with Take Profit of 1.4365 and Stop Loss of 1.4465

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.4325, with Take Profit of 1.4285 and Stop Loss of 1.4365